Section 7
of International Insurance and Takaful Order, 2002
ORDERIn forceProvision 7 of 73
Section 7
Notwithstanding section 6, the Authority may, having regard to the nature, extent and volume of the international insurance business which the applicant proposes to carry on –
(a)
specify in writing a greater or a lesser amount of working funds; and
15
BLUV as at 14th January 2016
(b)
specify an amount (in no case to exceed 60% of the amount specified under section 6) which may be provided by way of guarantee to be governed by the law of Brunei
Darussalam from a person and in a form acceptable to the Authority.
Licence applications for international insurers.